Kudelski Group H1 revenue up 11.6%

August 18, 2016

The Kudelski Group, a provider of media content protection and value-added service technology, has announced its 2016 half year results.

For the first half 2016, total revenues and other operating income increased by 11.6 per cent to reach CHF 481.8 million (€443.3m), with operating income of CHF 33.4 million, which is 6.9 per cent lower as compared to the first half 2015. Net income increased by 115.2 per cent to CHF 21 million compared to the first half 2015.

The Kudelski Group said it was able to deliver solid performance during the first half 2016 as a result of previous strategic decisions and in spite of adverse market conditions in some countries.

The integrated Digital TV (iDTV) segment was resilient in this first half, with a stable core digital TV business and strong momentum at Conax. Reported iDTV revenues increased by 1.7 per cent to CHF 336.7 million.

For the full year 2016, the Group expects growing iDTV revenues, driven, in particular, by the expansion of the Group’s cybersecurity operations and strong results from IP licensing. Second half iDTV revenues and operating income are forecasted to be higher than in the first half. In the Public Access segment, seasonality effects are expected to be less pronounced compared to previous years. The strong first half momentum of SKIDATA is expected to continue in the second half, resulting in a robust full year growth and profitability that exceeds last year’s. For the full year, the Group forecasts continued strong cash generation with operating free cash flow in the same range as in recent years.